ED attaches Rs 6.35 crore worth assets of Vendhar Movies’ Madhan

The Enforcement Directorate (ED) on Friday said it has provisionally attached immovable properties worth Rs 6.35 crore of B. Madan of Vendhar Movies under the Prevention of Money Laundering Act, 2002 (PMLA).

ED joint director, K S S V Prasad, said immovable properties worth Rs 6.35 crore belonging to Madan of Vendhar movies have been attached under the provisions of the Prevention of Money Laundering Act (PMLA), 20O2, for cheating the public to the tune of Rs 91 crore in the guise of getting medical admissions to SRM Group of Institutions.

According to the ED, it is alleged that Madan had collected around Rs 91 crore from 133 parents promising medical seats in the SRM Group of Institutions during 2016, but cheated them.

He said the probe agency has registered a case under the PMLA against Madan and others, based on an FIR by the central crime branch police. He had collected several crores of rupees by promising admission to the medical college and then disappeared with it.

Madan in his voluntary statements had admitted that he collected around Rs 91 crore from 133 parents for admission in MBBS/PG seats in SRM Medical College, the ED said.

Madan had claimed that he had paid these amounts on a weekly basis to the SRM Management.

“However, SRM Management denied the same and stated that said amounts were never received. They claimed that they follow a prescribed procedure for their admissions and B. Madan has no role in their admission process,” the ED said.